Quad-C Management closed its latest middle-market private equity fund, the $1.1 billion Quad-C Partners IX, at its hard cap in a single closing, spokeswoman Hayley Reissfelder said in an email.
The fund exceeded its $800 million target and is 57% larger than the prior fund that closed in December 2012 after that fund raised about $700 million.
The latest fund will invest in companies ranging in size from $75 million to $400 million. Of the 13 deals in the prior fund, Quad-C Partners VIII, Quad-C was the first institutional investor in eight of the companies.
Investors in the new fund include the $62 billion Massachusetts Pension Reserves Investment Management Board, Boston, and $16 billion Kansas Public Employees Retirement System, Topeka.